We're witnessing a seismic shift in how banks and credit unions approach the foundation of their business. No longer just product creators, traditional financial institutions are becoming product distributers that leverage nonlinear business models.
Governments across the globe are embracing open finance as consumers increasingly demand digital tools and services to better manage their financial lives.
Theo Lau and Brad Leimer, who run the consultancy Unconventional Ventures, offer three possible visions for banks' future — ranging from gloomy to upbeat — and advice on how financial institutions can make the best-case scenario a reality.
